GVIC-led group adds RMCF stake with 11,300-share buy at $1.98

Rhea-AI Filing Summary

Rocky Mountain Chocolate Factory, Inc. (RMCF) had an insider ownership update as a group led by Global Value Investment Corp. (GVIC) reported additional share purchases. On January 16, 2026, the reporting group bought 11,300 shares of common stock in an open‑market purchase at a weighted average price of $1.9781 per share. After this transaction, the group reports 1,971,306 shares of RMCF common stock held indirectly and 6,213 shares held directly. The filing is made jointly by GVIC and several related entities and individuals, with GVIC noted as the beneficial owner of the reported common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

GLOBAL VALUE INVESTMENT CORP.

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Rocky Mountain Chocolate Factory, Inc. [ RMCF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/16/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/16/2026		P		11,300	A	$1.9781(1)	1,971,306	I	See footnotes.(2)(3)
Common Stock								6,213	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

GLOBAL VALUE INVESTMENT CORP.

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

GVP 2021-A, L.P.

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			GVIC-Controlled Entity

1. Name and Address of Reporting Person^*

GVP 2021-A, LLC

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			GVIC-Controlled Entity

1. Name and Address of Reporting Person^*

GEYGAN JEFFREY RICHART

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Interim CEO

1. Name and Address of Reporting Person^*

GEYGAN JAMES

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Director and Officer of GVIC

1. Name and Address of Reporting Person^*

Wilke Stacy

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Officer of GVIC

1. Name and Address of Reporting Person^*

Geygan Kathleen

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Director of GVIC

1. Name and Address of Reporting Person^*

Rice Shawn G

(Last) (First) (Middle)

1433 N. WATER STREET

SUITE 400

(Street)

MILWAUKEE WI 53202

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			Director of GVIC

Explanation of Responses:

1. The reported price represents a weighted average purchase price. The Reporting Person undertakes to provide to the staff, the issuer, or a security holder full information regarding the number of shares purchased at each separate price.

2. In addition to Global Value Investment Corp, a Delaware corporation ("GVIC"), this Form 4 is being filed jointly by GVP 2021-A, L.P., a Delaware limited partnership, GVP 2021-A, L.L.C., a Delaware limited liability company, Jeffrey R. Geygan, a citizen of the United States of America, James P. Geygan, a citizen of the United States of America, Stacy A. Wilke, a citizen of the United States of America, Kathleen M. Geygan, a citizen of the United States of America, and Shawn G. Rice, a citizen of the United States of America, each of whom has the same business address as GVIC. GVIC beneficially owns the shares of common stock, par value $0.01 per share ("Common Stock"), of Rocky Mountain Chocolate Factory, Inc. reported on this Form 4.

3. In accordance with Instruction 4(b)(iv), the entire amount of Common Stock held by GVIC is reported herein. Common Stock reported as indirectly owned by GVIC includes shares owned by GVP 2021-A, L.P., GVP 2021-A, L.L.C., Jeffrey R. Geygan, James P. Geygan, Stacy A. Wilke, Kathleen M. Geygan, and Shawn G. Rice.

	James P. Geygan, Chief Executive Officer	01/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

Who reported the insider transaction in Rocky Mountain Chocolate Factory (RMCF)?

The transaction was reported jointly by Global Value Investment Corp. (GVIC), GVP 2021-A, L.P., GVP 2021-A, L.L.C., and several individuals including Jeffrey R. Geygan, with GVIC identified as beneficial owner of the reported RMCF common stock.

How many Rocky Mountain Chocolate Factory (RMCF) shares were bought in this Form 4?

The reporting group purchased 11,300 shares of RMCF common stock on January 16, 2026 in an open‑market transaction.

What price was paid for the RMCF shares in the reported transaction?

The 11,300 RMCF shares were acquired at a weighted average purchase price of $1.9781 per share, as disclosed in the filing.

How many Rocky Mountain Chocolate Factory (RMCF) shares does the reporting group own after the transaction?

Following the transaction, the filing reports 1,971,306 RMCF shares of common stock held indirectly and 6,213 shares held directly.

What role does Global Value Investment Corp. (GVIC) play in this RMCF Form 4?

The filing states that GVIC beneficially owns the RMCF common stock reported, and that the entire amount of common stock held by GVIC (including shares held through related entities and individuals) is reported in this Form 4.

Is an RMCF executive involved in the reported ownership?

Yes. Jeffrey R. Geygan is listed as a director, interim CEO, and 10% owner of RMCF and is one of the joint filers associated with the RMCF shares beneficially owned by GVIC.